10x Genomics (NASDAQ:TXG) Hits New 52-Week Low at $33.47

10x Genomics, Inc. (NASDAQ:TXG)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $33.47 and last traded at $33.54, with a volume of 219999 shares. The stock had previously closed at $34.55.

Analyst Ratings Changes

Several research firms recently commented on TXG. Stifel Nicolaus dropped their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Barclays dropped their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Moderate Buy” and an average target price of $60.88.

10x Genomics Stock Down 6.3 %

The firm’s 50 day moving average price is $40.92 and its 200-day moving average price is $43.21.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The firm had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) EPS. On average, research analysts forecast that 10x Genomics, Inc. will post -1.47 EPS for the current year.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the transaction, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00. Following the completion of the transaction, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 2,613 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the transaction, the insider now directly owns 283,059 shares of the company’s stock, valued at $13,116,954.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,959 shares of company stock worth $592,806. Corporate insiders own 10.65% of the company’s stock.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC increased its holdings in 10x Genomics by 41.7% during the second quarter. Atlas Capital Advisors LLC now owns 935 shares of the company’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. UMB Bank n.a. boosted its position in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the last quarter. Comerica Bank bought a new position in shares of 10x Genomics during the third quarter worth $64,000. Harvest Fund Management Co. Ltd bought a new position in shares of 10x Genomics during the fourth quarter worth $66,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of 10x Genomics by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $73,000 after acquiring an additional 197 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.